Goldman Sachs 2015 Annual Report Download - page 131
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THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES
Consolidated Statements of Changes in Shareholders’ Equity
Year Ended December
$ in millions 2015 2014 2013
Preferred stock
Balance, beginning of year $ 9,200 $ 7,200 $ 6,200
Issued 2,000 2,000 1,000
Balance, end of year 11,200 9,200 7,200
Common stock
Balance, beginning of year 988
Issued —1—
Balance, end of year 998
Share-based awards
Balance, beginning of year 3,766 3,839 3,298
Issuance and amortization of share-based awards 2,308 2,079 2,017
Delivery of common stock underlying share-based awards (1,742) (1,725) (1,378)
Forfeiture of share-based awards (72) (92) (79)
Exercise of share-based awards (109) (335) (19)
Balance, end of year 4,151 3,766 3,839
Additional paid-in capital
Balance, beginning of year 50,049 48,998 48,030
Delivery of common stock underlying share-based awards 2,092 2,206 1,483
Cancellation of share-based awards in satisfaction of withholding tax requirements (1,198) (1,922) (599)
Preferred stock issuance costs (7) (20) (9)
Excess net tax benefit related to share-based awards 406 788 94
Cash settlement of share-based awards (2) (1) (1)
Balance, end of year 51,340 50,049 48,998
Retained earnings
Balance, beginning of year 78,984 71,961 65,223
Net earnings 6,083 8,477 8,040
Dividends and dividend equivalents declared on common stock and share-based awards (1,166) (1,054) (988)
Dividends declared on preferred stock (515) (400) (314)
Balance, end of year 83,386 78,984 71,961
Accumulated other comprehensive loss
Balance, beginning of year (743) (524) (193)
Other comprehensive income/(loss) 25 (219) (331)
Balance, end of year (718) (743) (524)
Stock held in treasury, at cost
Balance, beginning of year (58,468) (53,015) (46,850)
Repurchased (4,195) (5,469) (6,175)
Reissued 32 49 40
Other (9) (33) (30)
Balance, end of year (62,640) (58,468) (53,015)
Total shareholders’ equity $ 86,728 $ 82,797 $ 78,467
The accompanying notes are an integral part of these consolidated financial statements.
Goldman Sachs 2015 Form 10-K 119